Gisele Bündchen, who is expecting her third child with boyfriend Joaquim Valente, is “excited to embrace this new chapter openly," a source exclusively tells PEOPLE.

Pregnant Gisele Bündchen is “excited” about what’s to come. The Brazillian supermodel, who is expecting her third child and first with boyfriend Joaquim Valente, is looking ahead at “this new chapter openly,” a source told People on Monday, days after news of her pregnancy broke.

Pregnant Gisele Bündchen and boyfriend Joaquim Valente were spotted out and about together for the first time since news broke that they are expecting their first baby together. They were seen at lunch in Miami with Bündchen's children,

Gisele Bündchen is about to be a mom of three, and sources have confirmed that she'll be embracing "this new chapter openly."

Gisele Bündchen, who is pregnant with her third baby, stepped out for lunch with boyfriend Joaquim Valente and elder kids Benjamin Rein, 14, and Vivian Lake, 11, who she shares with ex Tom Brady.